COP27: Biden says he's confident US will meet carbon emissions target by 2030

U.S. President Joe Biden told delegates at the COP27 climate talks in Egypt on Friday that his commitment had been unwavering and his administration was "putting our money where our mouth is to strengthen accountability for climate risk and resilience."

Biden added that good climate policy was good economic policy. He said he’s confident the U.S. will meet its target to reduce emissions, 50 to 52 per cent below 2005 levels by 2030.

"I can stand here as president of the United States of America and say with confidence, the United States of America will meet our emissions targets by 2030," he said.

Biden announced a down payment of $150 million of funding to African countries towards adaptation efforts, that help them move to a greener economy. This is part of more than two billion dollars committed towards the same program.

He also announced, alongside the European Union and Germany, a $500 million package to finance and facilitate Egypt's transition to clean energy. This package will enable Egypt to deploy 10 gigawatts of renewable energy by 2030 while bringing offline 5 gigawatts of inefficient gas power facilities, reducing emissions in Egypt's power sector by 10 per cent.

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